Egyptian startup OneOrder sets course for growth with new funding of USD 3 million • Zoo House News
OneOrder, Egypt’s restaurant supply chain solutions provider, has raised $3 million in seed funding led by Nclude with participation from A15 and Delivery Hero Ventures. With the most recent funding, the startup’s total funding is $10.5
million, including $6.5 million in working capital funding from financial institutions.
Launched in March this year, OneOrder enables restaurants to order grocery supplies through its online platform, solving the fragmented supply chain challenges that result in volatile prices, waste, quality issues and inventory costs.
By using the platform, restaurants no longer have to deal with dozens of suppliers and can only order what they need for next-day delivery, reducing waste and eliminating the need for warehousing. The platform also ensures operational efficiencies and helps restaurants save money by leveraging OneOrder’s economies of scale.
The startup plans to use the funding to expand its operations in Egypt, including increasing its warehouse space, and to explore growth opportunities in the Gulf Cooperation Council (GCC) region and Africa.
“We are exploring Saudi Arabia and expanding south into our continent. I think Africa has many markets that share the same pain points as Egypt,” said Tamer Amer, co-founder and CEO of OneOrder, who co-founded OneOrder with Karim Maurice (CTO) and founder of Cube, an online restaurant. reservation service.
“The solution we are offering has shown that this industry is ready for tech solutions…[and] We’re working on a more comprehensive operating system for the restaurants, not just the supply chain and inventory management system, but the entire cycle that will automate their operations by using AI and machine learning to drive the supply chain forward,” said Amer, a restaurateur since over two decades, first in the USA before settling in Egypt in 2008.
Amer told Zoo House News that the sourcing challenges he experienced while running two restaurants in Egypt — Fuego, a sushi bar, and Longhord Texas Barbeque — inspired the launch of OneOrder to serve the country’s entire addressable market of 400,000 restaurants .
“I had always taken the US supply chain for granted; we ordered and got supplies all the time. We didn’t have to worry about shortages or price changes. I realized that Egypt is so underserved and the industry is really doing a lot of things that we shouldn’t be doing,” he said.
“…Restaurants shouldn’t have a full-time job overseeing the supply chain and sourcing products, as that takes focus away from their core business of serving customers. So that’s where the idea really started,” he said.
OneOrder, through its partners and supported by its extensive data, plans to begin extending working capital financing options to restaurants to help them scale their operations.
Basil Moftah, Managing Partner at Nclude, said: “The product-market fit of the OneOrder solution is very impressive, together with the positive impact it delivers for all stakeholders in the value chain. Through the use of technology and alternative data, OneOrder’s embedded financing will help underserved customers who cannot secure traditional financing. This fits perfectly with our investment philosophy and we are excited to embark on this journey with the team.”